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Kanye West says he's terminating his partnership with the Gap

Kanye West says he's terminating his partnership with the Gap



Watch Kanye West threaten to end Adidas and Gap dealsReplayMore Videos ... (16 Videos)Watch Kanye West threaten to end Adidas and Gap dealsRomans: There is a move afoot here for better quality of living4 ways Twitter and Musk court battle could end, explainedSenator asks Twitter whistleblower about alleged Chinese spying. See his responseHere's how Elon Musk calculated the number of bots on TwitterThis is what Chevron's CEO thinks about climate change Hear why 15,000 nurses decided to walk off the jobSee moment Blue Origin rocket catches fire during launchBob Iger: Disney buying Twitter 'would've been irresponsible'CEO calls out misleading studies on efficacy of working from homeSee Apple's new iPhone 14Strategist: Here's why the Fed could still pull off a 'soft landing' Companies want workers back in office. Workers aren't so sureThese Tesla owners are going to great lengths to get Elon Musk's attentionWhat we know about Lukoil chairman's death 'Both a warning and a threat': Economics professor decodes Fed chair's commentsNew York (CNN Business)Kanye West said he's terminating his rocky two-year-old partnership with the Gap because of "substantial noncompliance."

His lawyer Nicholas Gravante said in a statement Thursday that West was left with "no choice but to terminate their collaboration" because he alleges the retailer breached their partnership by not opening branded Yeezy stores and distributing his apparel as originally planned, among other issues. "Gap's substantial noncompliance with its contractual obligations has been costly," wrote Gravante, who co-chairs the litigation group at Cadwalader, Wickersham and Taft. "Ye will now promptly move forward to make up for lost time by opening Yeezy retail stores."Gap (GPS) didn't immediately respond to a request for comment. Shares were flat in early trading. The partnership was announced in June 2020, immediately giving the beleaguered retailer a much-needed boost of relevance. For example, a $200 jacket designed by West was an immediate hit, but was only available online.Read MoreWest also said that Gap was required to sell 40% of Yeezy Gap products in its retail stores, which hasn't materialized, according to The Wall Street Journal. The relationship soured in recent months. West, also known as Ye, criticized Gap for not listening to him. "You have to really give me the position to be Ye and let me do what I'm thinking, or I have to do the thinking somewhere else," he said in a now-deleted post on Instagram, the Journal reported. West recently told Bloomberg that it was "time for me to go it alone," adding that he would seek to "make the new industry" and no longer have companies "standing in between me and the audience."


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